OLA Launches Anti-Fraud Consumer Awareness Campaign

Posted on June 27, 2012

Posted by: Lucy Saunders

Washington, D.C. June 27, 2012 – The Online Lenders Alliance (OLA) launched Wednesday an anti-fraud awareness campaign designed to empower consumers with tools and resources so they can protect themselves from becoming victims. “As industry leaders that adhere to a code of conduct and operate according to a set of best practices, it is our responsibility to make sure consumers are fully informed and use all lending products and practices responsibly,” said Lisa McGreevy , President and CEO of OLA. “In order to show this commitment we have created an online education campaign to fight fraud and give consumers the resources they need to protect themselves.”

Campaign-themed buttons, which OLA members can place on their company websites, will click-through to a special OLA landing page designed as a one-stop shop for resources and tips, consumer alerts, Federal Trade Commission (FTC) contact information, and the toll-free OLA Consumer Hotline to help consumers report fraudulent calls.

The new campaign comes on the heels of a recent crackdown by the FTC against a fraudulent debt collector whose companies had been making illegal calls to consumers demanding payments and making threats posing as law enforcement officials. Since the beginning of that scam, OLA worked closely with the FTC and other law enforcement agencies to end the scheme.

“From collecting on fake or false debts to mimicking the appearance of some of OLA members’ websites to perpetrate their crimes, unscrupulous individuals and companies prey on consumers and subvert the industry,” McGreevy said. “This is why OLA and its members recognize that it is important to provide resources and be an advocate for consumers of online small, short-term loan products.” Consumers who believe they are a victim of fraud should immediately report the incident to local law enforcement and the FTC. In addition, consumers who have questions or concerns about a possible fraudulent call can speak to live operators on the OLA Consumer Hotline at 1-866-299-7585.

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The Online Lenders Alliance is a professional trade organization representing the growing industry of companies offering online consumer small, short-term loans. OLA member companies abide by a list of Best Practices and Code of Conduct to ensure that customers are fully informed and fairly treated. For more information, visit http://www.onlinelendersalliance.org/.